Kenya: ARM Cement has cut its staff pension plan and medical insurance scheme due to cash flow problems. The staff schemes have been suspended from the end of June 2018 until further notice, according to the Business Daily newspaper. The suspension of the two benefits follows erratic salary payments and failure to pay pension contributions since June 2017. The cement producer has attempted to raise funds from asset sales and find a strategic investor. Its executive director Rick Ashley resigned in early May 2018 citing personal reasons.
ARM Cement cuts staff benefits to save money
URL: https://globalcement.com/news/item/7540-arm-cement-cuts-staff-benefits-to-save-money
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